"Yes."

"Well, about a week ago I received a private letter from Mr. Jardell, of the traction company, stating that there was something wrong with the bonds. Some plates had been stolen and counterfeit bonds printed."

"Yes."

"I was asked to keep quiet about the matter, for if the facts became generally known the public would become frightened and the bonds would go down in the stock market. Mr. Jardell said he would meet me at Carwell and have the printer look at my bonds and find out if they were genuine or not."

"And what did you do then?" asked Dick, who began to smell a mouse, as the saying goes.

"I sent Mr. Jardell word I would meet him at the Carwell hotel to-day. We met, and he and his printer, a man named Grimes, said the bonds I possessed were counterfeits."

"And then what?"

"Of course I was very much distressed," went on Randolph Rover, calmly. "I did not know what to do. But Mr. Jardell was very nice about it. He said he would take the bonds and get the company to issue good ones in their place. He gave me a receipt for them, and I am to have the good bonds next week."

"Why should he give you good bonds for bad ones?" said Tom, who, like Dick, was almost certain something was wrong.

"I asked that question, too, Thomas, but he said the reputation of his company was at stake. He did not want the public at large to know that bogus bonds were on the market."